The market for self-leveling concrete is expected to grow at a CAGR of about 5% globally during the forecast period. Growing demand from the commercial sector along with increasing demand from residential and industrial sectors are driving the market. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak coupled with other restraints are hindering the market growth.
- The self-leveling concrete market is expected to grow during the forecast period owing to the growing demand from the commercial sector.
- Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as China and India.
Key Market Trends
Growing Demand form the Commercial Sector
- Self-leveling concrete is widely used in construction applications and is expected to be the fastest-growing market during the forecast period.
- Self-leveling concrete provides good flow, ease of handling, strong adhesion, and provide glossy, and excellent finish. Polymer resins containing high-flow characteristics are added to the cement, which reduces the amount of water required during mixing. Polymer resins based on epoxy, polyurethane, and other resins are used in making underlayment or toppings.
- Self-leveling concrete is used mainly in flooring applications to create a flat and smooth flooring before placing interior floor coverings such as tiles, wood, or other floorings. In the top cover floorings or toppings, the concrete or cement is mixed with polymer leveling additives to provide easy leveling and pigment dyes are added to provide an aesthetic look.
- The rapid urbanization and growing commercial spaces such as shopping malls, educational institutions, office spaces, etc., are expected to drive the market for self-leveling concrete during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for the self-leveling concrete market during the forecast period due to an increase in demand from countries like China and India.
- China has always reacted to the economic slowdown by providing stimulus through monetary policy and by increasing infrastructure investments. Post COVID-19, the Chinese government is expected to do the same to get the economy back on track by increasing investments in the construction sector, particularly infrastructure.
- Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019 which are expected to be completed by 2023.
- The Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years. Furthermore, the construction industry in India has received a major boost by the investment of USD 1.4 billion through private equity and venture capital investments during October 2019.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for the self-leveling concrete market in the Asia-Pacific during the forecast period.
The global self-leveling concrete market is partially fragmented with players accounting for a marginal share of the market. Few companies include Sika Corporation, MAPEI Corporation, CEMEX S.A.B. de C.V., PurEpoxy, and LafargeHolcim
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